Monday, October 12, 2020

The Monthly “100 Digital Pitfalls” Book Tuning: Lessons Learned from Failures Oct. 2020

Either individually or at the organizational level, there are some failures perhaps you can control. But others seem completely out of control.

Digital makes a significant impact on how we think, live, and work. There is a mix of old and new, physical and virtual, order and chaos. We are in a time of tremendous change, the dawn of the digital age, the path to the next level of digital maturity, also in the era of confusion and information overload. Therefore, it’s critical to identify, understand, and avoid pitfalls, discover strategic and predictive pathways to change, increase confidence, position a brand and leverage resources to make the digital paradigm shift effortlessly.

The purpose of 100 Digital Pitfalls: How to Overcome Pitfalls on the Path of Going Digital” is to throw some light on how to identify, understand, and overcome common pitfalls on the digital journey, dig underneath the surface, and take a holistic approach to integrate both hard and soft elements for improving the long-term organizational competency and reaching the high-level of business maturity. Slideshare Presentation

Lessons Learned from Failures  

Fatal Mistakes Cause the Business Mighty Fall Due to the “VUCA” business new normal, the digital organization and its business ecosystem today become hyper-connected and interdependent. It’s important for the management to understand the business as a complex adaptive system with different functions, structures, layers, and teams. Every organization today sooner or later will step into the uncharted water or blurred territories, it is also critical to avoid these fatal mistakes or hidden pitfalls, which cause the business mighty fall, in order to lead the company forward at steadfast paces.

Learn from Failures No one likes failures, but failures knock our door sometimes. Either individually or at the organizational level, there are some failures perhaps you can control. But others seem completely out of control. The reality of failure is that it is also a way to learn. You can make a transition from failing bitter to failing better only if you learn from the failures, and then failing is something that prompts you to move ahead.

Variety of “Bias” in Decision-Making The digital era upon us is about increased velocity, complexity, unpredictability, and fierce competition. There is a need for a faster response to changes in businesses based on effective and efficient decision making. However, in reality, poor decision making is, unfortunately pervasive and caused by quite a few factors and the variety of bias. It’s important to identify them, deal with them intelligently, leverage both logic and intuition, in order to make sound judgment and effective decisions

How Does a Senior Leader Deal With Blind spots in Decision Making? There’s knowing unknown, there’s unknowing unknown, so it's not a new topic about “Blind Spots,” everyone perhaps has some, but as a senior business leader (or any kind of leader), the blind spots will cloud your vision, trigger your negative emotion, cause your decision ineffectiveness, and screw your leadership competency. So what're the causes of the blind spot, and how to deal with them logically?

Learning from Failures and Failure Forward No one likes failures, but often failure knocks our door before success. Failure in ancient Latin is "defectum," and defectum share the same root of the word "deficere" ("missing" in English) that comes from the ancient Greek αποτυχία means failure. εποτυχία means success. The meaning is understanding that the difference between failure and success is just in one letter... α and ε ... and just one letter can dramatically change the outcome. If failure is inevitable, either running an organization or undergoing a life journey, how do you fail fast and fail forward?

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